Ned Davis Research Bullish On Select EM ETFs

In the wake of a difficult 2011 for investors that embraced emerging markets, Ned Davis extolled a bullish view of select ETFs tracking select emerging markets for 2012. According to Barron's, Ned Davis views the five most promising countries in Eastern Europe as Poland, Russia, Turkey, Slovakia and Ukraine. That has the firm endorsing the SPDR S&P Emerging Europe ETF

, which allocates almost two-thirds of its weight to Russia. The research firm says that technical signals would be much more favorable for this ETF over $40 a share, according to Barron's. Ned Davis also said more risk-tolerant investors can take a look at the iShares MSCI Turkey Investable Market Index Fund

, the Market Vectors Russia ETF

and the iShares Poland Investable Market Index Fund

. Two of those

. With an eye toward Asia, Ned Davis likes the SPDR S&P Emerging Asia Pacific ETF

, which allocates almost two-thirds of its weight China and Taiwan. The ETF is down more than 20% year-to-date and could be in technical trouble below $65. The top-rated country on the firm's list is Indonesia, Barron's reported. That country can be accessed through the Market Vectors Indonesia ETF

, also highlighted by Benzinga yesterday, or the iShares MSCI Indonesia Invstable Market Index Fund

.